Inquiry for taking accounts and declaring the amount due

(1) Any debtor may make an application at any time to the court, whether the loan to which the suit relates has or has not become payable, for taking accounts and for declaring the amount due to the money lender. Such applications shall be in the prescribed form and accompanied by the prescribed fee. (2) On receipt of such application, the court shall cause a notice of the application to be given to the money lender. (3) On the date fixed for the hearing of the application or on such date to which the hearing may be adjourned from time to time, the court shall make an inquiry and shall after taking an account of the transactions between the parties pass an order declaring the amount, if any, still payable by the debtor to the money lender, in respect of the principal and interest, if any.